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Casual Articles - Do You Have The Right Focus To Make Your Dream A Business Instead Of A Hobby?
Business is about running numbers and managing money. It is all about keeping track on where the money is coming from and where it is going. One who doesn't keep a tab on it nearly always loses money and sometimes the business as well. Accounting software are a boon from heaven - or so they seem- as they reduce one's accounting burdens to such an unimaginable degree that one is left wondering if he overestimated the gravity of the problem in the first place.One such accounting software is the software for payroll accounting, which is an effective tool to meet the needs of small businesses, companies, institutions and the giant multination
When you're self-employed, especially when you are in the resource intensive phase of a start-up, it often seems that your business encompasses your whole life. And, this can lead you down a treacherous path of trying to get all of your needs met through your business.
If yo
IN PART 1 of this two part article, we looked at Quality of the Product and Friendliness of the Service. In Part 2 we will consider alignment to particular requirements, responsiveness to needs, ability to deliver to schedule, and cost to the purchaser. Let’s get started.ALIGNMENT TO REQUIREMENTSA big part of competitiveness is found in the alignment of the product to the customer’s requirements -- if it does what it’s supposed to do, they’re gonna consider buying it. This was discussed back in Quality of the Product, but it also means that you, as the producer, have to consider needs that the customer has in keeping his/her own
Yet, I was speaking with someone who wanted to make a living as an artist. This isn't any particular person, because I've had this conversation with folks numerous times. And, it's not always about art. Sometimes it's about coaching. Sometimes it's about cooking. Sometimes it's about walking dogs.
They spoke to me at length about how much they loved doing art, and how it fed their soul, and how important it was to their well-being. Very inspiring stuff, and it felt great. But, when I asked them, "How do you want to help other people with your artwork?" they couldn't answer me.
"It's art! It exists for its own sake. It should have value in and of itself."
This person was right. Art does exist for its own sake. And it does have value in and of itself. But, there is a difference between doing something purely to please yourself, and doing something with a consciousness that you are giving and serving others.
While there are many reasons to start a business, there is only one essential reason that allows it to thrive: helping people with some challenge they are facing. Income in a business only comes from customers. While funding may come from loans, or angel investors, or venture capitalists, eventually the allowance runs dry, as we saw in the 1990's with the dot-com bust.
Customers only buy when you are helping them with their needs and challenges.
We humans are complex creatures, with many needs and desires that have to be met in order to have a fulfilling life. I'm aware right now of my needs for creativity, truth, fun, adventure, love, intimacy, friendship, community, provision, food, shelter and heat (it's winter!), contribution, spiritual connection- I could go on and on.
When you're self-employed, especially when you are in the resource intensive phase of a start-up, it often seems that your business encompasses your whole life. And, this can lead you down a treacherous path of trying to get all of your needs met through your business.
If you
According to U.S. Census data, there are over 4 million households in America with a net worth value above $1 million (apparently this number excludes equity in your first home). While many of us believe wealthy Americans inherited their wealth, or won the lottery, in actuality, 80% of the millionaires surveyed by the Census Bureau did not inherit their wealth, and about one-third of them achieved financial success by owning their own small business. An interesting book on this subject is The Millionaire Nextdoor, by Thomas Stanley. Although it is several years old, its content and message remain valid today.Additional Census data suggest
"It's art! It exists for its own sake. It should have value in and of itself."
This person was right. Art does exist for its own sake. And it does have value in and of itself. But, there is a difference between doing something purely to please yourself, and doing something with a consciousness that you are giving and serving others.
While there are many reasons to start a business, there is only one essential reason that allows it to thrive: helping people with some challenge they are facing. Income in a business only comes from customers. While funding may come from loans, or angel investors, or venture capitalists, eventually the allowance runs dry, as we saw in the 1990's with the dot-com bust.
Customers only buy when you are helping them with their needs and challenges.
We humans are complex creatures, with many needs and desires that have to be met in order to have a fulfilling life. I'm aware right now of my needs for creativity, truth, fun, adventure, love, intimacy, friendship, community, provision, food, shelter and heat (it's winter!), contribution, spiritual connection- I could go on and on.
When you're self-employed, especially when you are in the resource intensive phase of a start-up, it often seems that your business encompasses your whole life. And, this can lead you down a treacherous path of trying to get all of your needs met through your business.
If yo
When the customer is ready to buy, do not tell more than necessary. Yet how many times have customers been put off by sales people who should know better?I would like to relate two experiences when sales people nearly lost the sale through "telling too much".In the first case, a direct marketing representative was selling a health food to a customer. The representative never bothered to find out the customer's background and instead went into the product benefits - that it was supposed to remove free radicals from the body, was scientifically proven and had many testimonials from satisfied customers. A simple check on the Internet
While there are many reasons to start a business, there is only one essential reason that allows it to thrive: helping people with some challenge they are facing. Income in a business only comes from customers. While funding may come from loans, or angel investors, or venture capitalists, eventually the allowance runs dry, as we saw in the 1990's with the dot-com bust.
Customers only buy when you are helping them with their needs and challenges.
We humans are complex creatures, with many needs and desires that have to be met in order to have a fulfilling life. I'm aware right now of my needs for creativity, truth, fun, adventure, love, intimacy, friendship, community, provision, food, shelter and heat (it's winter!), contribution, spiritual connection- I could go on and on.
When you're self-employed, especially when you are in the resource intensive phase of a start-up, it often seems that your business encompasses your whole life. And, this can lead you down a treacherous path of trying to get all of your needs met through your business.
If yo
When an entrepreneur takes the plunge and starts his or her own cleaning company, the first concern is how to get clients. Once up and running, the day-to-day tasks take over and the goal of owning a business - making a profit - is sometimes lost. But your cleaning business cannot survive and grow unless there is more money coming in than going out.Unless you are an MBA or CPA, the numbers game can get quite confusing. It is not just a matter of paying bills and balancing a checkbook. To know if your cleaning business is clearing a profit you have to look at accounts receivables, accounts payables, deductions, and depreciation, and then t
Customers only buy when you are helping them with their needs and challenges.
We humans are complex creatures, with many needs and desires that have to be met in order to have a fulfilling life. I'm aware right now of my needs for creativity, truth, fun, adventure, love, intimacy, friendship, community, provision, food, shelter and heat (it's winter!), contribution, spiritual connection- I could go on and on.
When you're self-employed, especially when you are in the resource intensive phase of a start-up, it often seems that your business encompasses your whole life. And, this can lead you down a treacherous path of trying to get all of your needs met through your business.
If yo
A question I hear or read often is, ‘is that professional enough?’ What is ‘professional’, and how is one professional and what is considered unprofessional? The actual definition of ‘professional’ is “Of, relating to, engaged in, or suitable for a profession: lawyers, doctors, and other professional people.” Or “Conforming to the standards of a profession: professional behavior.”When considering whether a service or location is professional, a great response comes from the dictionary again, which defines professional as “A skilled practitioner; an expert.” I have met many skilled practitioners who are not very prof
When you're self-employed, especially when you are in the resource intensive phase of a start-up, it often seems that your business encompasses your whole life. And, this can lead you down a treacherous path of trying to get all of your needs met through your business.
If you try to take care of these kinds of personal needs only through your business, you will probably sink it, because you might unconsciously make decisions to soothe yourself, rather than really serve your business and your customers.
But, if you don't take care of these very legitimate needs at all, you will be performing a slow form of suicide.
Are you trying to make a business out of a personal need that has nothing to do with your desire to contribute to other's well-being? Are you neglecting your personal needs and killing yourself, your business, and your family?
Keys to Living the Dream
• If you truly want to make it a business, then you'll want to focus on these four things:
1. Get crystal clear on the problem you want to solve, and what it's really like for those who are facing the problem, and apply your creativity in providing a solution.
2. More than just the solution, how will you deliver the solution so that it can be most easily accessed and used by your customers?
3. More than providing and delivering the solution, how will you reach those people so they know the solution exists?
4. More than reaching the people, and providing and delivering the solution, what does your business itself need so that it can continue to do, and improve upon, the first three, so more and more people get help?
• If you aren't sparked by any of those four things around an activity, you may have something that you prefer to keep as a hobby.
1. A hobby doesn't necessarily solve problems for others.
2. It's primarily for you and your enjoyment and growth.
3. It's less important whether you reach other people, unless yo
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